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Banks expected to highlight cost containment as they report earnings
– canadianbusiness.com
TORONTO – Grappling with a perfect storm of economic and operating challenges, Canada’s biggest banks are expected to emphasize their efforts to rein in costs as they report their fourth-quarter earnings this week.
“They need a catalyst to grow earnings, and increasingly I think the focus is on expenses,” said Edward Jones analyst Jim Shanahan.
Bank of Montreal (TSX:BMO) and Scotiabank (TSX:BNS) will kick off the earnings parade on Tuesday, followed by Royal Bank (TSX:RY) and National Bank (TSX:NA) on Wednesday. CIBC (TSX:CM) and TD Bank (TSX:TD) will wrap up the quarterly reporting period on Thursday.
Analysts will be looking for signs of cracks stemming from continued low oil prices on the banks’ loan books. The first such indications of trouble began to crop up last quarter, when most of the lenders reported higher impaired loans — loans that are unlikely to be repaid in full — to companies in the oil and gas sector.
Despite the spike, the credit problems that have so far surfaced have proven to be manageable for the banks…
“They need a catalyst to grow earnings, and increasingly I think the focus is on expenses,” said Edward Jones analyst Jim Shanahan.
Bank of Montreal (TSX:BMO) and Scotiabank (TSX:BNS) will kick off the earnings parade on Tuesday, followed by Royal Bank (TSX:RY) and National Bank (TSX:NA) on Wednesday. CIBC (TSX:CM) and TD Bank (TSX:TD) will wrap up the quarterly reporting period on Thursday.
Analysts will be looking for signs of cracks stemming from continued low oil prices on the banks’ loan books. The first such indications of trouble began to crop up last quarter, when most of the lenders reported higher impaired loans — loans that are unlikely to be repaid in full — to companies in the oil and gas sector.
Despite the spike, the credit problems that have so far surfaced have proven to be manageable for the banks…
